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Employees: 12,563
Size Zhengzhou Coal Industry & Electric Power (600121.SS) is a China Energy company (Coal) with a market value of $786M, the 2815th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.30 on 6 Nov 2026.
Performance Over six months the shares gained 1.2%, against -13.6% for the median peer and -16.4% for the China market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue fell 4.7% over the last twelve months (peer median +4.9%); the operating margin is -8.5% (peer median 0.4%).
Valuation It trades at 3.1× enterprise value to sales against a peer median of 1.4× (7th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 36% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +30 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.7 points below its cost of capital (5.4% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.51B | CN¥3.52B | CN¥4.17B | CN¥4.16B | CN¥4.25B |
| Revenue growth | — | -16% | 0% | -2% | — |
| Gross profit | CN¥1.09B | CN¥433M | CN¥969M | CN¥1.12B | CN¥1.36B |
| EBITDA | n/a | CN¥310M | CN¥684M | CN¥960M | CN¥1.17B |
| Net income | -CN¥826M | -CN¥927M | CN¥283M | CN¥32.0M | CN¥68.4M |
| Free cash flow | CN¥341M | -CN¥75.2M | -CN¥92.4M | -CN¥148M | CN¥1.10B |
| Capital expenditure | CN¥369M | CN¥403M | CN¥549M | CN¥391M | CN¥99.2M |
| Total debt | CN¥7.00B | CN¥6.63B | CN¥6.70B | CN¥6.18B | CN¥6.87B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 600121.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -23.9% | -13.8% | 2nd lowest of 21 |
| 6-month return | +1.2% | -13.6% | 5th highest of 21 |
| Distance from 52-week high | -31.2% | -33.7% | 10th highest of 21 |
| Revenue growth (TTM) | -4.7% | +4.9% | 9th lowest of 21 |
| Operating margin | -8.5% | 0.4% | 8th lowest of 21 |
| EV / Sales | 3.1× | 1.4× | 7th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 36.0% | -4.6% | 2nd most demanding of 13 |
| Growth delivered (Del g) | +5.7% | +2.3% | 5th highest of 13 |
| Hurdle (Req g minus delivered) | +30.3 pp | -9.6 pp | 4th most demanding of 13 |
| ROIC minus cost of capital | -4.7 pp | -2.0 pp | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhengzhou Coal Industry & Electric Power 600121.SS | China | $786M | +1% | -5% | -8% | 3.1× | 36.0% | +5.7% |
| Jastrzebska Spolka Weglowa JSW.WA | Poland | $788M | -6% | -8% | -28% | 0.7× | n/a | n/a |
| Baotailong New Materials 601011.SS | China | $724M | -20% | +25% | -50% | 8.5× | 7.7% | -23.9% |
| Mongolian Mining 0975.HK | Hong Kong | $899M | -27% | +26% | 13% | 1.1× | -5.8% | +14.7% |
| Geo Energy Resources RE4.SI | Singapore | $676M | -23% | -11% | 11% | 2.2× | n/a | n/a |
| Shaanxi Heimao Coking 601015.SS | China | $965M | -22% | -13% | -11% | 1.3× | n/a | n/a |
| Yunnan Coal & Energy 600792.SS | China | $636M | -15% | +5% | -16% | 1.1× | -3.5% | +3.1% |
| China Qinfa 0866.HK | Hong Kong | $613M | -37% | -13% | 23% | 3.2× | n/a | n/a |
| Liaoning Energy Industry 600758.SS | China | $613M | -22% | -28% | -26% | 1.6× | n/a | n/a |
| Sundiro 000571.SZ | China | $612M | -13% | +8% | -11% | 7.0× | 41.3% | -10.9% |
| Yunnan Yunwei 600725.SS | China | $540M | -31% | -25% | -5% | 6.8× | 34.1% | -16.8% |
| Kailuan Energy Chemical 600997.SS | China | $1.28B | -9% | +5% | -2% | 0.5× | n/a | n/a |
| Anhui Hengyuan Coal Industry and Electricity Power 600971.SS | China | $1.30B | -13% | +34% | 3% | 1.3× | -10.2% | +1.6% |
| Shanghai Datun Energy Resources 600508.SS | China | $1.32B | +14% | +15% | 4% | 1.1× | -9.3% | +0.1% |
| Shanxi Lanhua Sci-Tech Venture 600123.SS | China | $1.34B | -14% | +8% | 1% | 2.0× | n/a | n/a |
| Shanxi Coking 600740.SS | China | $1.34B | -19% | 0% | -15% | 2.6× | 13.3% | -2.7% |
| Macmahon MAH.AX | Australia | $1.35B | +6% | +8% | 7% | 0.8× | 4.3% | +14.1% |
| Stanmore Resources SMR.AX | Australia | $1.54B | +5% | -6% | 0% | 1.1× | -9.9% | +60.7% |
| Natural Resource Partners L.P NRP | United States | $1.56B | +6% | -10% | 63% | 7.8× | -8.1% | +9.4% |
| Guizhou Panjiang Refined Coal 600395.SS | China | $1.60B | -10% | +6% | 15% | 3.7× | n/a | n/a |
| Shougang Fushan Resources 0639.HK | Hong Kong | $1.66B | -4% | +33% | 20% | 0.9× | -17.3% | +4.8% |